Press Room

  3 FEBRUARY 2021 - Belem Cultural Centre - CCB, LISBON - (online event)   The Case for Sustainable Accounting Standards When the planet faces big issues, scientists are the first to flag them, the first to understand them, the first to design solutions – sadly science is seldom at the table when business decisions are taken. When the issues are simple, such as the ozone hole above Antarctica, scientists can get decision-makers to understand and act and we have Science to thank for the Montreal protocol: 20 years elapsed from discovery to inverting the trend – this speed is possible when the problem is simple: a single chemical reaction -ozone and chlorine- and a single culprit – man-made CFC gases. Climate change is very complex, there are multiple causes, the magnitude of change needed is massive and therefore cannot be solved without a transversal approach. Scientists are not able to influence decision-making because they do not speak the language of business. Companies, CEOs, asset managers, shareholders, funds march to the tune of profitability, their language is that of financial performance – today’s accounting standards ignore externalities and measure business profit not accounting for the good and the bad impacts of business on society and on the environment. Sustainable accounting standards that measure profitability adjusted for social and environmental impact is the necessary new common language if we are to ensure scientists, business and other stakeholders understand each-other. If we do not measure, we cannot manage. CFOs don’t know what is a mole of a newton, as much as most people in this room might not know what is EBITDA or an impairment. We must measure unambiguously the true and complete value of business. This measure of value added corrected for sustainability can connect to a measure of sustainable GDP of a city or of a country, which in turn can connect with the value of the world's ecosystem services and natural capital. Tracking this performance over time will allow to assess the trajectory of the health of our planet. Sustainable accounting standards will drive business to hire new skills. Finance and controlling areas will recruit scientists, engineers, anthropologists, sociologists... Over time the Chief Financial Officer will see its role evolving to that of a Chief Value Officer. If business adopts sustainable accounting standards, executives and shareholders will know the complete extent of their impact and the liabilities they face from exposure to climate change. No one can then plead ignorance. Taxation can take into account social benefits and environmental costs thereby driving desired behaviors. No amount of Science Based targets and Mission Oriented R&D projects can ever come close to the impact on Climate Change that Business harnessed by the right accounting standards can deliver by doing its day-to-day work in a manner that considers the people and the planet. Sustainable accounting standards will allow the market forces to drive decisions in the right direction. Putting a man on the moon by the decade’s end, may be more inspiring than making every company in the EU to comply with Sustainable Accounting Standards. This may come across as a small step for the EU Commission to take, but it would be a giant leap for the planet. How could Horizon Europe spur the innovations necessary not only to embrace sustainable accounting practices, but also make it possible for economic, business and investment actors to evolve the underlying logic of market capitalism to value natural, social and human capital on par with financial? Could the EU lead the world in this evolution during next 10 years?”   Guy Villax Lisbon, 3rd February 2021 PDF version       Find more about this virtual event at  


The Case for Sustainable Accounting Standards

Feb 03, 2021

Hovione is nominated for CPhI awards 2019 being shortlisted in two categories:   1. “API Development”, for its PRIME tool - Process Ranking of Inputs from Manufacturing.         “It is an honour to have been selected for the finalists’ panel, which is already by itself an achievement. The PRIME tool enables to grow our collective knowledge on chemical processes and being able to visualize how each project is evolving along the lifecycle according to several metrics; additionally, we can establish thresholds for different metrics according to our past knowledge and develop our process to meet those targets. We can also start to build automatically databases for e.g. the most frequent reaction conditions per type of reaction. The tool not only helps managing better our knowledge on chemical processes but also adds a lot of value for our customers” said Filipe Ataíde, PhD, one of Hovione’s scientists responsible for PRIME.   2. “Analysis, Testing, and Quality Control” for its Accelerated dissolution methods for extended release drug product.     ​“Extended release formulations provide many advantages to patients and greatly simplify treatment but carry a heavy burden in terms of quality control. The methodology presented here aims at reducing the burden on the quality control lab, by developing accelerate dissolution methods that shorten the API release duration from several months to a few days. This accelerates the analysis timing and still guarantees the quality of the drug product since a good correlation with the long-term API release is the base of this development. Most importantly, this development poses a very significant advantage in terms of patient compliance, particularly for drugs where administration is complex such as those administered through the ocular route, or when the risk of missing a dose is high, and also regarding drugs with a frequent administration for extended periods. Above all, it contributes to the patients’ well-being” said Mafalda Paiva, MsC, one of Hovione’s scientists responsible for this innovation.    


Hovione’s innovative solutions nominated for CPhI awards 2019

Oct 30, 2019

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